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- Mask Network is currently trading at $6.18 (press time) with an increase of 12.93% during the intraday trading session.
- The 24-hour low of MASK was $5.31 and the 24-hour high of MASK was $6.47.
- The current Mask Network price is above the 20-, 50, 100, and 200-Day EMAs.
The MASK/BTC pair was trading at 0.0002209 BTC with a rise of 11.88% over the intraday trading session.
Mask Network price prediction suggests that it is currently in an uptrend after testing its secondary resistance of $5.163. The MASK token traded below its secondary support of $2.557 for the time period of six months in 2022. However, it tried to rise with the help of accumulated buyer support after November 2022 breaking its primary and secondary support as well as primary and secondary resistances.
But sellers became active in the market again pushing the MASK price below its secondary support and remaining there till the end of the year due to heavy selling pressure in the market.
After the start of 2023, the MASK price again started its upward movement with the support of active buyers in the market breaking its primary and secondary support. But after it tested the secondary resistance, sellers came back into the market which caused the prior downtrend.
However, the formation of the morning star candlestick pattern after a downtrend might be the cause of the current uptrend, as per the daily time frame chart.
The trading volume of the coin has increased by 67.52% in the last 24 hours, meaning that buying in the market has increased. Buyers are trying their best and this can be seen in the relationship between the volume and the price of MASK, which shows strength in the current bullish phase.
Mask Network Price Technical Analysis
The Relative Strength Index (RSI) is increasing in the overbought zone and has shown a positive crossover, wherein the buyers are in the majority and pushing MASK upwards. This suggests the strength of the current bullish trend. The current value of RSI is 68.89, which is above the average RSI value of 60.11.
The MACD and the signal line are increasing and have shown a positive crossover over the daily chart, providing evidence that it can support the RSI claims. Investors need to watch every move over the charts during the day’s trading session.
Conclusion
Mask Network price prediction suggests that it is currently in an uptrend after testing its secondary resistance of $5.163. The sudden rise in trading volume shows positive market sentiment for the MASK token.
Furthermore, RSI and MACD are both increasing and have displayed a positive crossover over, with the daily trading chart showing strength in the current bullish phase, as per the technical indicators.
Technical Levels
Resistance level- $5.163 and $6.158
Support level- $3.163 and $2.557
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
